Monday, May 9, 2011

JOHOR BARU: Country View Bhd is optimistic that the company's on-going property project, Nusa Sentral, will do well due to its strategic location.

Marketing manager Andrew Tan said prospective buyers would be attracted to the housing scheme's location within the development of Nusajaya in Iskandar Malaysia.

He said Nusajaya, which was also easily accessible from Singapore via the second link crossing, was another factor that would attract buyers.

“Most of our buyers for phase one are Malaysians working in Singapore who commute daily to the republic using the crossing,'' Tan told StarBiz.

He said other buyers were upgraders from nearby areas such as Gelang Patah, Ulu Choh, Pontian, Pekan Nenas and Skudai.

He said all non-bumiputra lots for the phase one comprising 312 units of five-room double-storey link houses with built-up areas ranging from 2,100 sq ft to 2,300 sq ft and priced from RM338,000 had been sold out.

Tan said Nusajaya was progressing well and completed and soon-to-be completed major projects would add value to the properties within the development zone.

Two major projects in Nusajaya Kota Iskandar, Johor Sate New Administrative Centre, and Puteri Harbour Waterfront development are already completed.

Other projects slated for completion within the next one to three years include the Newcastle University Medical Campus, Marlborough College, Netherlands Maritime Institute of Technology and Legoland Theme Park.

Nusajaya, spanning 9,600ha, is one of the five flagship development zones in Iskandar Malaysia. The other four are the Johor Baru City Centre, Eastern Gate Development, Western Gate Development and Senai-Kulai.

“Accessibility to the area will improve when the RM1bil New Coastal Highway linking Nusajaya and Johor Baru city centre is completed by the end of the year,'' he said.

Tan said Country View would be launching 217 units of double-storey link houses for phase two with indicative pricing of between RM358,000 and RM418,000 and three-storey shop offices this year.

Nusa Sentral is located along Jalan Gelang Patah-Lima Kedai on a 121.40ha site and the project will keep the company busy for eight years.

Separately, he said seven out of 12 bungalow units priced between RM3.8mil and RM4.6mil each, at Jalan Straits View facing the Straits of Johor, were already sold. “The buyers are foreigners based in Singapore and also those who have businesses all over the world and have chosen Johor Baru as their second home.''

For the financial year ended Nov 30, 2010 (FY10), Country View recorded a net loss of RM8.19mil on revenue of RM23.25mil compared with a net loss of RM3.74mil on revenue of RM51.49mil FY09.

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